I suspect that the lenses are identical, and that "COLOR" was added to the name to say the camera is suitable for color film. But as shutterfinger warned, focal lengths vary within a tolerance, so you should check focus-accuracy with the method he describes above. My approach is to lose calibration of focus upon disassembly, and re-calibrate upon reassembly using shutterfinger's method: Adjust until sharp at infinity, and then tighten the set-screws around the focus-ring.
Mark Overton